(1) Any person whose land or compensable interest therein has been taken by an intentional or unintentional act or omission of the Transportation Department without the filing of a complaint and declaration of taking by the department may, within twenty-four (24) months of the date of the taking of the affected property or interest therein or the completion of the project involving the taking, whichever occurs later, file a complaint in the circuit or county court setting forth the names and places of residence of the parties, so far as the same can by reasonable diligence be ascertained, who own or have, or claim to own or have estates or interests in the real estate. If any such persons are under a legal disability, it must be so stated, together with a statement as to any encumbrances on the real estate. The complaint shall further allege with particularity the facts which constitute the taking together with the dates on which they allegedly occurred. The complaint shall describe the property allegedly owned by the parties and shall describe the area and interests allegedly taken. Upon the filing of the complaint, summons shall issue and, together with a copy of the complaint, shall be served on the Transportation Department as provided in Section 65-1-309. The allegations of the answer shall be deemed denied; however, the Transportation Department, within sixty (60) days of service of summons and complaint, may file an answer. If the taking is admitted by the Transportation Department, it, at the time of filing answer, shall deposit with the court the fair market value of compensation for the taking; and notice of the deposit shall be given to the owner. The owner may apply for disbursement of the deposit, and disbursement shall be made in accordance with applicable provision of Section 65-1-307. If a taking is admitted, the Transportation Department, within ninety (90) days of the filing of the answer to the complaint, shall file a map or plat of the land taken. This procedure shall be followed for the purpose of determining all matters raised by the pleading and the determination of just compensation.

(2) The plaintiff, at the time of filing of the complaint, shall record a memorandum of action in the land deed records in the office of the chancery clerk in all counties in which the land involved is located. The memorandum of action shall contain the following:

(a) The names of those persons who the plaintiff is informed and believes may have or claim to have an interest in the lands and who are parties to the action;

(b) A description of the entire tract or tracts affected by the alleged taking sufficient for the identification thereof;

(c) A statement of the estate or interest in the land allegedly taken for public use; and

(d) The date on which plaintiff alleges the taking occurred, the date on which the action was instituted, the county in which it was instituted and such other reference thereto as may be necessary for the identification of the action.